November 14 (Renewables Now) - Canadian power producer Northland Power Inc (TSE:NPI) has closed a non-recourse debt refinancing and restructuring of a 550-MW portfolio of renewable energy parks in Spain, the company's advisor Green Giraffe announced.
Northland arranged a EUR-690-million (USD 713.1m) senior debt package with Spanish lender CaixaBank SA (BME:CABK). The new senior financing replaced the existing senior debt structured at the separate special purpose vehicles level with a single holding level financing, Green Giraffe said.
The portfolio contains 435 MW of onshore wind, 66 MW of solar PV and 50 MW of concentrated solar power. The entire capacity is distributed across 33 operating assets throughout Spain. The assets are regulated under Spain’s Royal Decree 413/2014, Green Giraffe said.
Northland acquired the portfolio in 2021 in a transaction that enabled it to enter the Spanish renewables market.
Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.